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Posted

Does New Jersey law prevent a local public school district from sponsoring a 457 plan?

Thanks,

Joel L. Frank

Guest getaxa
Posted

From the research that I have done, the answer is no, NJ law does not prevent 457 plans in schools however it does not say that schools can set one up. Illinois has an enabling statute that specifically states that schools can set up 457 plans. There is no such document for NJ. You can try Amy Wilson (609-984-2105) she is in charge of 457 plans in NJ for Municipalities. Good luck and let me know what you turned up.

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